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Singapore Viewpoint - CCR - Have you ever seen the rain - September 2018

A private property in the CCR has traditionally been regarded as a luxury item beyond the reach of the masses. However, market transactions for non-landed homes have proven otherwise; one can still find value buys in the CCR, especially for the “price sensitive” buyer. Median prices from 2013 to the first half of 2018 ranged between $1.5 and $2.4m for new homes, and between $2.0 and $2.4m for the resale market. Notably, buyers with HDB addresses accounted for around 20% of all purchasers in the CCR for the past five years - evidence that CCR homes have become a viable option for upgraders.

With sound economic fundamentals and long-term prospects, Singapore still presents a compelling proposition as a home and investment location. Based on the Global Living 2017 report by CBRE, compared to major cities around the world, Singapore’s prime real estate prices are not exorbitant. Finally, given their limited supply and prime locations, private residential homes in the CCR will always remain exclusive and sought after.